Convertible Promissory Notes
Note converts to Class B Non-Voting Membership Units when the company raises $1,000,000 in a qualified equity financing.
Maturity Date: June 15, 2021
$5,000,000 Valuation Cap
20% Discount Rate
6% Annual Interest Rate*
*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below
If you invest $1000 or more, you will receive a KÉXY pack including a KÉXY cap, t-shirt, and sweatshirt.
Attention Restaurant & Bar Owners: If you invest $3,500 or more, your restaurant or bar will receive a lifetime subscription to KÉXY Connect & Suite**.
* All perks occur after the offering is completed.
** Only one restaurant or bar, per investment
What is a Convertible Note?
A convertible note offers you the right to receive units in KEXY, LLC. The number of units you will receive in the future will be determined at the next equity round in which the Company raises at least $1,000,000 in qualified equity financing. The highest conversion price per share is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing. You also receive 6% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive Class B Units equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding shares of the Company as of immediately prior (on a fully diluted basis), subject to discount rate, if applicable.